Clal Insurance Enterprises Holdings Ltd increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 48.7% in the third quarter, now owning 574,000 shares valued at $48.595 million. Other institutional investors also adjusted their positions in the REIT. Despite the increased institutional interest, the company recently cut its quarterly dividend to $0.72 per share and authorized a $500 million stock repurchase program, while analysts currently rate the stock as a “Hold” with an average target price of $65.73.
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Clal Insurance Enterprises Holdings Ltd Raises Stock Position in Alexandria Real Estate Equities, Inc. $ARE
Clal Insurance Enterprises Holdings Ltd increased its stake in Alexandria Real Estate Equities, Inc. (NYSE:ARE) by 48.7% in the third quarter, now owning 574,000 shares valued at $48.595 million. Other institutional investors also adjusted their positions in the REIT. Despite the increased institutional interest, the company recently cut its quarterly dividend to $0.72 per share and authorized a $500 million stock repurchase program, while analysts currently rate the stock as a “Hold” with an average target price of $65.73.